https://www.engineeringnews.co.za

Tesla raises car prices in China -Electrek

9th July 2018

By: Reuters

  

Font size: - +

Tesla Inc has raised prices on its Model X and S cars by over $20 000 in China, automotive news website Electrek reported on Monday, making it one of the first US carmakers to hike prices in the wake of rising trade tensions.

China slapped retaliatory tariffs on US car imports in response to President Donald Trump's move to impose tariffs on $34-billion worth of Chinese goods.

Tesla has been banking heavily on China to boost sales of its electric cars and had planned to build a factory in the country, which is also the largest automotive market.

The company in May slashed up to $14 000 off its Model X in China after Beijing announced major tariff cuts for imported automobiles.

China contributed about 17 percent to Tesla's total revenue in 2017 and the electric car maker ships an estimated 15 000 cars a year to the country.

The prices of the Model S and Model X were increased over the weekend by 150 000 yuan to 250 000 yuan ($22 600 to $37 600) depending on the version, Electrek reported. Tesla did not immediately respond to a request for comment by Reuters.

Ford Motor Co said on Thursday it would not hike prices on its imported cars for now, including those on higher-margin luxury Lincoln models, crimping its profit margins on cars imported to China.

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.103 0.156s - 158pq - 2rq
Subscribe Now